Implications of strategic alliances for earnings quality and capital market investors

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dc.citation.epage1816en_US
dc.citation.issueNumber9en_US
dc.citation.spage1806en_US
dc.citation.volumeNumber67en_US
dc.contributor.authorDemirkan, S.en_US
dc.contributor.authorDemirkan, I.en_US
dc.date.accessioned2016-02-08T11:02:53Z
dc.date.available2016-02-08T11:02:53Z
dc.date.issued2014en_US
dc.departmentDepartment of Managementen_US
dc.description.abstractStrategic alliances are well-established organizational forms and a means of strategy implementation. Despite their growing pervasiveness in the economy, existent literature provides few insights about earnings quality of strategic alliances. This challenge is especially severe in contractual alliances (CAs), where firms do not form a new corporate entity that is separate from the parent organization in comparison to joint ventures (JVs). We investigate how earnings attributes differ depending on involvement in strategic alliances of 8137 CAs and 3026 JVs spanning 1997-2007. We find, in particular, that earnings attributes of firms involved in contractual alliances are broadly reflective of low underlying accounting quality. Relative to JV firms and non-alliance (NA) firms, they have higher levels of discretionary accruals, lower accrual quality, and earnings that are less persistent, less smooth, less relevant, less timely, and less conservative. They also have lower earnings response coefficients. © 2013 Elsevier Inc.en_US
dc.description.provenanceMade available in DSpace on 2016-02-08T11:02:53Z (GMT). No. of bitstreams: 1 bilkent-research-paper.pdf: 70227 bytes, checksum: 26e812c6f5156f83f0e77b261a471b5a (MD5) Previous issue date: 2014en
dc.identifier.doi10.1016/j.jbusres.2013.12.009en_US
dc.identifier.issn0148-2963
dc.identifier.urihttp://hdl.handle.net/11693/26648
dc.language.isoEnglishen_US
dc.publisherElsevier Inc.en_US
dc.relation.isversionofhttps://doi.org/10.1016/j.jbusres.2013.12.009en_US
dc.source.titleJournal of Business Researchen_US
dc.subjectCapital market responseen_US
dc.subjectEarnings attributesen_US
dc.subjectExplanatory approachen_US
dc.subjectStrategic alliancesen_US
dc.subjectVoluntary disclosureen_US
dc.titleImplications of strategic alliances for earnings quality and capital market investorsen_US
dc.typeArticleen_US

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